Well, with all those offset nipples, it's almost too many bends in one conduit run!
1) What's holding that coupling to the left panel? A chase nipple on the inside? Is that an accepted practice?
2) That offset nipple on the left doesn't look like it's threaded very far into the reducer bushing. If it was really made up wrench-tight, I'd expect there would be no threads showing.
I don't think I'd count on a lash-up like that as part of the ground path. In fact, I can hardly stand looking at it...
